Distribution Solutions Group, Inc. $DSGR Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC lifted its stake in shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR) by 30,271.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,601 shares of the company’s stock after purchasing an additional 24,520 shares during the period. Parallel Advisors LLC’s holdings in Distribution Solutions Group were worth $859,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nantahala Capital Management LLC acquired a new position in shares of Distribution Solutions Group in the 2nd quarter valued at $13,526,790. BlackRock Inc. purchased a new position in Distribution Solutions Group in the 2nd quarter worth about $18,750,000. Norwood Investment Partners LP purchased a new position in Distribution Solutions Group in the 2nd quarter worth about $4,252,597. OMERS ADMINISTRATION Corp purchased a new position in Distribution Solutions Group in the 2nd quarter worth about $1,080,000. Finally, Groupe la Francaise acquired a new stake in Distribution Solutions Group during the 1st quarter worth about $1,222,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on DSGR. Stephens set a $35.00 price objective on shares of Distribution Solutions Group in a research note on Thursday, July 16th. Barrington Research set a $35.00 target price on shares of Distribution Solutions Group and gave the stock a “market perform” rating in a report on Friday, July 17th. Weiss Ratings downgraded shares of Distribution Solutions Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Zacks Research upgraded shares of Distribution Solutions Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $35.00.

Distribution Solutions Group Price Performance

Shares of NASDAQ:DSGR opened at $34.97 on Wednesday. The company’s fifty day moving average is $34.94 and its two-hundred day moving average is $30.49. The company has a market cap of $1.62 billion, a P/E ratio of 24.44 and a beta of 0.54. Distribution Solutions Group, Inc. has a 12-month low of $19.02 and a 12-month high of $35.29. The company has a quick ratio of 1.33, a current ratio of 2.47 and a debt-to-equity ratio of 1.23.

Distribution Solutions Group (NASDAQ:DSGR) last issued its earnings results on Thursday, November 5th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.30 by $0.28. The business had revenue of $573.62 million during the quarter, compared to analysts’ expectations of $558.60 million. Distribution Solutions Group had a return on equity of 10.32% and a net margin of 0.54%. Equities analysts expect that Distribution Solutions Group, Inc. will post 1.35 earnings per share for the current fiscal year.

About Distribution Solutions Group

Distribution Solutions Group, Inc. is a specialty distribution company serving industrial, manufacturing and other business customers. It supplies products and related services that help customers maintain operations, support production and manage supply-chain needs. The company operates through three businesses: Lawson Products, which provides maintenance, repair and operations supplies; Gexpro Services, which supports original equipment manufacturers with supply-chain and distribution services; and TestEquity, which distributes test and measurement equipment, electronic production supplies and environmental test chambers.